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A. EXCESS SURPLUS TEST <br />Excess Surplus is defined in Section 34176.1(d) as an unencumbered amount in the account <br />that exceeds the greater of one million dollars ($1,000,000) or the aggregate amount deposited <br />into the account during the Housing Successor's preceding four Fiscal Years, whichever is <br />greater. <br />The following provides the Excess Surplus test for the preceding four Fiscal Years: <br />3 The FY 2015/16 beginning balance is restated due to the reclassification of the long-term loans <br />receivable from deferred inflows of resources, unavailable revenue, to an allowance for uncollectible <br />accounts. <br />HOUSING AUTHORITY OF THE CITY OF SANTA)8o I�' 297/18 Page 7 <br />FY i <br />i2017118 <br />Beginning Balance <br />$17,996,580 <br />$48,615,116 <br />$46,541,115 <br />$42,936,847 <br />Add: Deposits <br />$2,329,877 <br />$312,836 <br />$138,585 <br />$540,960 <br />(Less) Expenditures <br />$950,279 <br />$2,386,837 <br />$3,742,853 <br />$6,814,276 <br />Ending Balance <br />$19,376,178 <br />$46,541,115 <br />$42,936,847 <br />$36,663,531 <br />3 The FY 2015/16 beginning balance is restated due to the reclassification of the long-term loans <br />receivable from deferred inflows of resources, unavailable revenue, to an allowance for uncollectible <br />accounts. <br />HOUSING AUTHORITY OF THE CITY OF SANTA)8o I�' 297/18 Page 7 <br />